Statement to entities engaging in crypto-asset activities or crypto-related services

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Nov 29, 2022

In November 2022, the Office of the Superintendent of Financial Institutions (OSFI), the Financial Consumer Agency of Canada (FCAC), the Canada Deposit Insurance Corporation (CDIC) issued a statement to all regulated entities that carry out crypto-related services or engage in crypto-asset activitiesFootnote. It reinforces the expectation that those federally regulated entities adhere to all applicable current regulatory requirements and any guidance when carrying out any crypto-related services or engaging in crypto-asset activities.

Crypto-related services and crypto-asset activities, as well as the technology upon which they are based, may present opportunities for the financial system, but they could also present significant risks to consumer protection as well as the stability, integrity, privacy, and security of the financial system.

Review the statement on the OSFI's website.

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